Announcements and statements from the Sons of Confederate Veterans, Inc. The SCV was founded in 1896 to honor and preserve the history and heritage of Confederate soldiers, sailors and marines.

Friday, December 21, 2007

New IRS Regulations that Affect Every Camp

The IRS has passed new regulations, which take effect in 2008, that will require each camp and division to file an e-card with some simple information on it. Before, any subdivision of a non-profit (in our case camps and divisions) that had receipts of less than $25,000 did not have to file any information with the IRS, and if it had receipts over $25,000 it had to file a 990 form. Now, even those with receipts less than $25,000 will have to file the e-card (Form 990-N). This form must be filed electronically (over the internet). It will ask for information like the principal officer’s name and address, tax period, and a declaration that receipts are less than $25,000. This will not be a complicated form, and can be done in a few minutes, but if a camp or division ignores this obligation, tax-exempt status can be lost. This is not a witch-hunt by the IRS, and the SCV is not being singled out: it affects all non-profits. Camp commanders will receive (or may have already received) notices from the IRS that this change will take place; these are generic and not directed at a particular camp.

Obviously, each camp will need to have someone with internet access to file (paper filing won’t be allowed). Otherwise, this shouldn’t be a major difficulty for most camps.

There are really just two things to keep in mind with the 990-N: 1) Don’t panic, it’s just a generic change in IRS non-profit reporting for next year, not this year 2) Be sure that your camp and division file the 990-N next year if you have receipts less than $25,000.